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Vodafone Idea posts net loss of Rs 7,022.8 crore for March quarter

It had posted a loss of Rs 11,643.5 crore in the corresponding quarter of the previous fiscal.

June 30, 2021 / 11:20 PM IST

Vodafone Idea on June 30 reported a consolidated net loss of Rs 7,022.8 crore for the quarter ended March 31, 2021. It had posted a loss of Rs 11,643.5 crore in the corresponding quarter of the previous fiscal. In the December quarter, the company's loss stood at Rs 4,532.1 crore.

For the full financial year 2020-21, the debt-ridden telecom firm's net loss came in at Rs 44,233.1 crore against Rs 73,878.1 crore in the previous financial year.

Its revenue from operations stood at Rs 9,607.6 crore, down 18.26 percent against Rs 11,754.2 crore registered in the March 2020 quarter. In the December quarter, revenue was Rs 10,894.1 crore.

Basic earnings per share for the quarter under review was Rs (-) 2.44 against Rs (-) 4.05 in the year-ago period.

"The Company’s financial performance has impacted its ability to generate the cash flow that it needs to settle/ refinance its liabilities and guarantees as they fall due, which along with its financial condition is resulting in material uncertainty that casts significant doubt on the Company’s ability to make the payments mentioned therein and continue as a going concern," Vodafone Idea said in its earnings release.

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Shares of the company on Tuesday settled at Rs 9.95 apiece on the BSE, down more than a percent from previous close.



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Moneycontrol News
first published: Jun 30, 2021 08:51 pm
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